Z Property Transmittal, Supporting Documents — Budget, Appropriations and Finance, December 15, 2025
THE UNITED STATES VIRGIN ISLANDS OFFICE OF THE GOVERNOR RCUD SEN. PRESID GOVERNMENT HOUSE DEC 8°25 au9:5q EN Charlotte Amalie, V.I. 00802 340-774-0001 December 5, 2025 Honorable Milton E. Potter President Thirty-Sixth Legislature of the U. S. Virgin Islands Capitol Building St. Thomas, Virgin Islands 00802 Re: CONTRACT FOR THE PURCHASE AND SALE OF REAL PROPERTY Between the Government of the Virgin Islands and Z Property VI, LLC Dear President Potter: Transmitted herewith in accordance with the provisions of Title 31, §205 of the Virgin Islands Code is Contract for the purchase and sale of real property between the Government of the Virgin Islands (“GVI”) and Z Property, VI, LLC (“Z Property”) for the following property: Parcel No. 20-A Hospital Street, St. Croix US Virgin Islands, consisting of 2,000 US. square feet, more or less, as more fully described on Measure Brief 49329 Folto No, 472 dated Julv 24, 1997. Parcel ID#: 2-04904-1 102-00. Z Property has agreed to purchase the property from the GVI for Two Hundred Sixty Thousand Dollars and Zero Cents ($260,000.00). …
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THE UNITED STATES VIRGIN ISLANDS OFFICE OF THE GOVERNOR RCUD SEN. PRESID GOVERNMENT HOUSE DEC 8°25 au9:5q EN Charlotte Amalie, V.I. 00802 340-774-0001 December 5, 2025 Honorable Milton E. Potter President Thirty-Sixth Legislature of the U. S. Virgin Islands Capitol Building St. Thomas, Virgin Islands 00802 Re: CONTRACT FOR THE PURCHASE AND SALE OF REAL PROPERTY Between the Government of the Virgin Islands and Z Property VI, LLC Dear President Potter: Transmitted herewith in accordance with the provisions of Title 31, §205 of the Virgin Islands Code is Contract for the purchase and sale of real property between the Government of the Virgin Islands (“GVI”) and Z Property, VI, LLC (“Z Property”) for the following property: Parcel No. 20-A Hospital Street, St. Croix US Virgin Islands, consisting of 2,000 US. square feet, more or less, as more fully described on Measure Brief 49329 Folto No, 472 dated Julv 24, 1997. Parcel ID#: 2-04904-1 102-00. Z Property has agreed to purchase the property from the GVI for Two Hundred Sixty Thousand Dollars and Zero Cents ($260,000.00). Z Property further agree to pay the delinquent sewer fees owing against the Premises, although the cost will be credited to Z Property at closing. The proposed sale of the Premises is justified on at least four grounds. First, the current blighted condition of the Premises poses a liability to both the Government and the surrounding community. Second, the purchase price would provide a substantial financial return on an asset that has long yielded no benefit to the Government. Third, Z Property’s intended redevelopment aligns with broader revitalization goals for Christiansted and is expected to stimulate economic activity, create jobs, and enhance community aesthetics. Fourth, the Premises are not allocated for any current or future use and, further, are unsuited to the Government’s real estate portfolio in their current condition. CONTRACT FOR THE PURCHASE AND SALE OF REAL PROPERTY Between the Government of the Virgin Islands and Z Property VI, LLC Your prompt and favorable consideration of the Contract for the purchase and sale of Parcel No. 20-A Hospital Street, St. Croix US Virgin Islands will be appreciated. Sincerely, Albert an Jr: Governor